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CANON HAS SOLID 1ST HALF DESPITE POOR PRINTER, STEPPER SALES

Canon Inc’s pretax profit for the six months ended June rose 23% to more than 78 billion yen ($678m) on strong sales of photocopiers and cameras. Assuming the dollar trades at 115 yen for the remainder of the year, the company forecasts pretax profit up 16% at about 145 billion yen for the full year. First-half revenue grew more than 10% to 733 billion yen ($6.37bn). Photocopier sales increased 25%, driven by digital and color models. Sales of cameras surged 21%, boosted by the release of advanced photo system (APS) models. Printer sales lost momentum, with overall computer peripherals growing about 5%. Sales of steppers plunged 20%, due to capital spending cuts by chipmakers.

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